Sec Form 4 Filing - DEAN DAVID M @ STRATUS PROPERTIES INC - 2016-07-19

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person DEAN DAVID M 2. Issuer Name and Ticker or Trading Symbol STRATUS PROPERTIES INC [ STRS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) X __ Other (specify below) See Remarks (Last) (First) (Middle) 16200 ADDISON ROAD, SUITE 220 3. Date of Earliest Transaction (MM/DD/YY) 07/19/2016 (Street) ADDISON, TX75001 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, par value $0.01 per share 07/19/2016 J( 1 ) 45,000 D $ 18 0 ( 2 ) D ( 2 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Repurchase Option (obligation to sell) $ 18 07/19/2016 J 45,000 ( 1 ) ( 1 ) Common stock 45,000 $ 18 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other DEAN DAVID M 16200 ADDISON ROAD, SUITE 220 ADDISON, TX75001 See Remarks Signatures /s/ DAVID M. DEAN 07/19/2016 Signature of Reporting Person Date

Explanation of Responses:

( 1 )As reflected in a Statement on Form 4 filed by the Reporting Person, on May 5, 2016, the Reporting Person entered into a Stock Purchase and Option Agreement with Mr. Carl E. Berg (the "Stock Purchase and Option Agreement"), pursuant to which the Reporting Person agreed to purchase and Mr. Berg agreed to sell 45,000 shares of the Issuer's Common Stock, par value $0.01 per share ("Common Stock"), beneficially owned by Mr. Berg, for an aggregate price of $810,000, subject to the terms and conditions of the Stock Purchase and Option Agreement, including but not limited to the grant by the Reporting Person of a call option with respect to such 45,000 shares of Common Stock in favor of Mr. Berg. The purchase of such shares of Common Stock by the Reporting Person was never consummated and, on July 19, 2016, the Reporting Person and Mr. Berg mutually rescinded the Stock Purchase and Option Agreement. ( 2 )As reflected in a Statement on Schedule 13D jointly filed by the Reporting Person, Carl E. Berg and Michael L. Knapp and in connection with the termination of certain Joint Filing and Solicitation Agreement dated January 14, 2016 by and among the Reporting Person, Mr. Berg and Mr. Knapp and the rescission of the Stock Purchase and Option Agreement, the Reporting Person, Mr. Berg and Mr. Knapp are no long acting as a group and the Reporting Person has ceased to own or to be deemed to own, directly or beneficially, any shares of Common Stock.

Remarks: Group Member - Section 13d 10% Owner

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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